TJX Companies (NYSE:TJX) Sets New 1-Year High – Here’s Why

The TJX Companies, Inc. (NYSE:TJX) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $128.99 and last traded at $126.76, with a volume of 5400281 shares trading hands. The stock had previously closed at $120.03.

Analyst Ratings Changes

TJX has been the topic of a number of research analyst reports. UBS Group upped their target price on shares of TJX Companies from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Citigroup raised TJX Companies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $128.00 to $140.00 in a research report on Thursday, April 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $145.00 price target on shares of TJX Companies in a report on Thursday, February 27th. Morgan Stanley increased their price target on shares of TJX Companies from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, BMO Capital Markets raised their target price on TJX Companies from $133.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.76.

TJX Companies Trading Up 0.6 %

The company has a fifty day moving average of $121.55 and a 200-day moving average of $120.66. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $143.24 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.75 and a beta of 0.86.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07. The business had revenue of $16.35 billion during the quarter, compared to analysts’ expectations of $16.24 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. As a group, equities research analysts anticipate that The TJX Companies, Inc. will post 4.18 earnings per share for the current fiscal year.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.425 per share. This is a boost from TJX Companies’s previous quarterly dividend of $0.38. This represents a $1.70 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 15th. TJX Companies’s payout ratio is currently 39.91%.

Insider Activity at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 23,428 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total value of $2,882,346.84. Following the completion of the sale, the chief executive officer now directly owns 484,189 shares in the company, valued at $59,569,772.67. This represents a 4.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Bennett sold 8,000 shares of TJX Companies stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $123.53, for a total value of $988,240.00. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Trading of TJX Companies

Several hedge funds have recently made changes to their positions in the company. Bogart Wealth LLC acquired a new position in TJX Companies in the fourth quarter valued at approximately $25,000. Trivant Custom Portfolio Group LLC purchased a new stake in TJX Companies in the fourth quarter valued at $26,000. SOA Wealth Advisors LLC. purchased a new stake in TJX Companies in the fourth quarter valued at $30,000. Millstone Evans Group LLC acquired a new position in shares of TJX Companies in the 4th quarter valued at $30,000. Finally, Promus Capital LLC purchased a new position in shares of TJX Companies during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Company Profile

The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, and gourmet food departments; jewelry and accessories; and other merchandise.